| Ticker: PTET | 2001 Butterfield Road, Suite 1400 | |
| Exchange: NASDAQ-National Market | Downers Grove, Illinois 60515 | |
| Industry: Manufacturing | (708) 769-0033 |
| Type of Shares: | Common Shares | Filing Date: | 12/12/95 | |
| U.S. Shares: | 2,650,000 | Offer Date: | 3/12/96 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,500,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 150,000 | Gross Spread: | $0.91 | |
| Offering Amount: | $34,450,000 | Selling: | $0.55 | |
| Expenses: | $900,000 | Reallowance: | $0.10 | |
| Shares Out After: | 4,824,770 |
| Manager | Tier | Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 504-4525 |
| Auditor: Ernst & Young | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 5/31/95 | 11/30/95 | 11/30/94 | 11/30/95 | ||
| Revenue: | $15.36 | $12.96 | $6.13 | Assets: | $11.45 |
| Net Income: | -$4.84 | $0.42 | -$1.57 | Liabilities: | $17.93 |
| EPS: | -$2.12 | $0.05 | Equity: | -$6.48 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a producer of recorded music for a variety of music formats. The Company specializes in markets that it believes offers growth and profit potential. The Company initially targeted Gospel music as such a market. In 1993, the Company acquired the music catalog of Lexican Music, Inc., which had been in the Gospel music business for approximately 20 years. Through Lexicon other catalog acquisitions and artist development, the Company has developed a significant presence in the Gospel market. Since April 1995, the Company has had more album titles in the Top 40 Gospel Album Chart than any other record label. According to Billboard Magazine in its centennial issue the Company's catalog of mastered recordings included eleven of the top 40 best selling Gospel records of all time. |
| Use of Proceeds |
| The company anticipates to use the net proceeds of this offering for repayment of bank and related party indebtedness, redemption of Series A-1 Preferred Stock and for working capital and other general corporate purposes. |
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